One of the centerpieces of this year's slimmed down budget was the announcement of a new Tax-Free Savings Account. Aimed at those with lower-incomes not necessarily benefiting from traditional tax-sheltered plans like RRSPs, the TFSA is drawing interest and criticism from the financial community.

What are the benefits? How do you decide which savings plan to use?

Carson Hirner

Carson Hirner is a chartered accountant, U.S. certified public accountant as well as a certified financial planner and principal with accounting firm, Koster, Spinks and Koster.

On Friday, February 29 he took your questions on the TFSA.

Read his responses after the jump.